Disadvantages of accounting software in excel

The accounting software have upgraded to a point where an accounting software in excel has a lot of disadvantages that you will need to heed to so you know that it is time to move to a smarter software. The disadvantages of accounting software in excel makes it complicated and gives rise to innumerable shortcomings that can be removed with the latest accounting software. But first you will need to recognize the drawbacks that it comes with.

Disadvantages:

Human errors

Errors are bound to happen when a human is entering the details in a spreadsheet. In case wrong dates, wrong numbers are placed the entire report will become a mess and it is possible on a frequent basis. The damage that can occur is unpredictable and huge as small errors will lead to big confusions and it is unavoidable as humans are prone to making mistakes.

Difficulty in troubleshooting

You can come across missing data and folders spread all over the place which is bound to happen and it can be scattered all over workstations, offices etc. This will make it extremely difficult for you to locate or trace the data and every related file.

Prone to fraud

You don”™t really have any proper security when it comes to accounting in excel sheets. It will bring millions and billions of loss if you are not careful, but how careful can anyone be. It does not provide any guaranteed security other than password which can be hacked easily using any hacker. You have no control over your data as it is easy to alter the formulas, values, etc.

Not updated for today”™s business

The business today has developed to a stage where the process has become complicated and smarter than just filling numbers in the columns. This cannot be taken care by accounting software in excel. It is simple a dry accounting that you can also put down in a paper.

Not designed for collaborative work

It is not designed to perform any collaborative work. Planning, forecasting, budgeting and reporting are all collaborative activities. These are not possible to be performed by it as it only records the daily reports. In case you have several branches and offices the only way to share your data is though emails. This does not provide satisfactory level of accounting and is not smart enough for any business. It keeps you from exchanging it there and then and from being on the same page with all the other branches and employees creating communication gap.

Difficult to consolidate

It does not allow one end of the user to have it all as it favours just one end. Thus the other end users have to go through a long and slow process to consolidate and collect all the data together. All your department heads have to collect all the scattered data and go through a slow process to provide the report to the owner. Which can be done by just accessing the software without anyone having to collect data from every place in case of other accounting software. This leads to errors as many people handle it and while collecting large amount of data it is obvious to make mistakes.

Cannot help in fast decision making

It creates communication gaps as the data in it has to be sent through emails to keep everyone informed and so the business owner gets all the details. Consolidating takes a long period of time giving rise to errors, hence cross checking is required along with several other work. This hinders the work flow resulting in late decision making.

Not suitable for continuity

As you cannot have all the data in one place it does not provide continuity to the records and accounts that you collect everyday. The reports are scattered in separate folders which makes it difficult to have a proper continuity. This way you can never save all your reports in a=order and that results in havoc in the end of every session.

Bad in scaling

Only if you can scale your profit and progress in a proper manner will your business grow faster as you remain aware of your business progress level. But not in case of Excel, it cannot provide you a clear visibility for your business progress and profit meter so you cannot compare it in the easiest way to improve your business based on what you are suppose to improve in.

Reach accounting software

All the above mentioned disadvantages of accounting software in excel can be forgotten once you decide to move to Reach accounting software. The latest, smartest and friendliest sofwtare available in the market.

It customizes with any type of business and provides you with all the latest features. It is a complete business management software. Reach cannot be compared to excel accounting as excel is a child while Reach is an actual software built for managing a business despite of what its size, process and niche may be. It can improve your business in the smartest and fastest way with all its powerful features. It is a powerful sofwtare that simplifies your complex business by managing everything that you need.

Features:

Order management

Manufacturing management

Warehouse

Point of sale

Lots and barcode management

Project

Accounting

Invoicing

Multi branch

Purchases

Sales

Access

Multi company

Auditor view

Mobile application

Business automation

Operations and process

Loyalty management

Addons

Tally import

The features tell you the difference between accounting sofwtare in excel and Reach. It allows you to access all your accounts even when you are not at work, from any device and any location. It makes your business error free and all the updates are provided in real time hence there are no communication gap whatsoever. Reach provides bank level of security to your business with no possible fraud and unauthorized access as it also comes with accessibility restriction menu so you can restrict areas as per your requirement within the sofwtare from your employees for maximum security. There is no requirement of man labour as much as it automates your entire business working thorough out on its own managing the departments and updating you timely and also backing up your data every 3 hours. Reach also reduces cost in your business and gives clear view of work progress and profit meter so you can make better decisions and gain profit in an easier way.